So, you have determined to start out speculating with BTCUSD, and also you need to check out BitDooZER. Good. Let’s take a better look. There is a distinction between Bitcoin per se and the BTCUSD forex pair. The latter is clearly a cross between Bitcoin and america Greenback. There are just a few professionals and cons to buying and selling this pair, and it’s best to determine what carries extra weight for you:
PROS of buying and selling BTCUSD
- You possibly can commerce the entire weekend.
- Brokers mustn’t apply any comission on it.
- Extra “unbiased” pair, not dependant on any authorities.
- Much less susceptible to information influence (solely USD).
- Often no information in the course of the weekend, which is after we need to commerce.
CONS of buying and selling BTCUSD
Principally, every thing comes right down to the big volatility of the pair. It behaves in a really totally different means than another commonplace forex pair, at instances a bit oddly. Pair like GBPUSD or USDJPY are unstable however you’ll be able to see they form of keep the identical vary. The BTCUSD pair appears to be like calm at instances after which spikes unexpectedly. That makes it a bit harmful in the event you’re planning on buying and selling the pair regularly.
With this in thoughts…
…we do not suggest buying and selling the BTCUSD pair throughout weekdays as a result of it may be laborious to foretell and isn’t as “calm” as another foreign exchange pair, at the very least in concept. Due to this fact we began trying carefully on the habits of the forex in the course of the weekends, and it rapidly turned clear that the pair behaves in a means calmer method in the course of the weekend than it does throughout weekdays. This should not be a shock for the reason that ForEx market is closed, however on the similar time it opened the door to beginning exploring buying and selling the pair ONLY in the course of the weekend and NOT throughout weekdays.
The every day chart under highlights in orange the weekends in comparison with the weekdays (not highlighted). As you’ll be able to observe, the 2 every day candles of each weekend have a really slender vary in a lot of the circumstances in comparison with the candles from Monday via Friday.
So, in conclusion, we created BitDooZER as a fork or little brother to DooZER to commerce solely BTCUSD however in the course of the weekend. As a consequence of this, we don’t suggest utilizing BitDooZER throughout weekdays because of the excessive volatility of the image, as already talked about. Additionally, the habits of the pair could be very totally different from the EURUSD, NZDCHF or EURCHF, and the inner logic and values are adjusted in BitDooZER just for BTCUSD. Due to this fact in the event you use BitDooZER for different pair akin to EURUSD, understand that inside values akin to Take Revenue, tolerance to unfold, entry and exit factors can be very removed from optimum. For EURUSD it’s best to use the “massive brother” DooZER as an alternative.